Average monthly West Texas Intermediate (WTI) crude oil price from October 2016 to October 2017 (in U.S. dollars per barrel)

Average monthly WTI oil price 2015-2017 This statistic displays the price of West Texas Intermediate (WTI) crude oil from October 2016 to October 2017. WTI is also known as "Texas light sweet", and is a grade of crude oil often used as a benchmark for oil pricing. In October 2017, the price for one barrel of West Texas Intermediate crude oil stood at some 51.58 U.S. dollars.
Price of West Texas Intermediate crude oil, monthly

WTI is also known as "Texas light sweet" and is a grade of crude oil. This crude oil has an API gravity of around 39.6 and specific gravity of about 0.827, which, relative to other crude oils is considered “light,” hence the name. WTI also contains about 0.24 percent sulfur, making it a “sweet” crude oil.

WTI is often used as a benchmark for oil pricing, making the price of Texas light sweet economically significant. The price of WTI can be compared to the prices other of crude oils, i.e. UK Brent crude oil, the OPEC crude oil basket, and Dubai Fateh oil. Prices of WTI per barrel during the period considered above were lower than those of the two other crude oils, with the price of OPEC basket oil reaching 104.45 U.S. dollars per barrel in July 2013, and the UK Brent crude oil price at 107.93 U.S. dollars per barrel in July 2013. WTI crude oil is also the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts.

The recent price development of WTI crude oil relative to Brent crude oil has been influenced by variances in U.S. crude oil transportation and increased U.S. oil production per day. New transportation infrastructure became operational in the United States in early 2013, easing the movement of crude oil in the U.S. midcontinent and raising the price of WTI. Since early March, U.S. refineries have increased production of crude oil to record levels, also raising the price of WTI. Meanwhile, expedited crude transport in the U.S. put downward pressure on Brent crude oil as domestic crude replaced some imported Brent crude. Between 2014 and 2016, UK Brent prices dropped rapidly, as was the case for all other crude oils.
Show more
Loading statistic...
Price in U.S. dollars per barrel
Oct 1649.78
Nov 1645.71
Dec 1651.97
Jan 1752.5
Feb 1753.47
Mar 1749.33
Apr 1751.06
May 1748.48
Jun 1745.18
Jul 1746.63
Aug 1748.04
Sep 1749.82
Oct 1751.58
Price in U.S. dollars per barrel
Oct 1649.78
Nov 1645.71
Dec 1651.97
Jan 1752.5
Feb 1753.47
Mar 1749.33
Apr 1751.06
May 1748.48
Jun 1745.18
Jul 1746.63
Aug 1748.04
Sep 1749.82
Oct 1751.58

© Statista 2017

Download Settings Share
Chart type
Datalabels
Share on Social Media
HTML code to embed chart as PNG (FAQ)
Download started
Please be patient - this may take a moment
Description Source More information
This statistic displays the price of West Texas Intermediate (WTI) crude oil from October 2016 to October 2017. WTI is also known as "Texas light sweet", and is a grade of crude oil often used as a benchmark for oil pricing. In October 2017, the price for one barrel of West Texas Intermediate crude oil stood at some 51.58 U.S. dollars.
Price of West Texas Intermediate crude oil, monthly

WTI is also known as "Texas light sweet" and is a grade of crude oil. This crude oil has an API gravity of around 39.6 and specific gravity of about 0.827, which, relative to other crude oils is considered “light,” hence the name. WTI also contains about 0.24 percent sulfur, making it a “sweet” crude oil.

WTI is often used as a benchmark for oil pricing, making the price of Texas light sweet economically significant. The price of WTI can be compared to the prices other of crude oils, i.e. UK Brent crude oil, the OPEC crude oil basket, and Dubai Fateh oil. Prices of WTI per barrel during the period considered above were lower than those of the two other crude oils, with the price of OPEC basket oil reaching 104.45 U.S. dollars per barrel in July 2013, and the UK Brent crude oil price at 107.93 U.S. dollars per barrel in July 2013. WTI crude oil is also the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts.

The recent price development of WTI crude oil relative to Brent crude oil has been influenced by variances in U.S. crude oil transportation and increased U.S. oil production per day. New transportation infrastructure became operational in the United States in early 2013, easing the movement of crude oil in the U.S. midcontinent and raising the price of WTI. Since early March, U.S. refineries have increased production of crude oil to record levels, also raising the price of WTI. Meanwhile, expedited crude transport in the U.S. put downward pressure on Brent crude oil as domestic crude replaced some imported Brent crude. Between 2014 and 2016, UK Brent prices dropped rapidly, as was the case for all other crude oils.
Show more
Release date
November 2017
Region
Worldwide
Survey time period
October 2016 to October 2017

Statista Accounts: Access All Statistics. Starting from $588 / Year

Statistics on "Oil and gasoline prices"

  • Global price determinants
The most important statistics
  • UK Brent
  • West Texas Intermediate (WTI)
  • OPEC basket
  • Country comparison
  • United States - prices
  • United States - taxes
The most important statistics

Related Studies: Available to Download in PDF or PPTX Format

Oil and gasoline prices

All Information
in one Presentation

Oil and gasoline prices

Everything On "Oil and gasoline prices" in One Document: Edited and Divided into Handy Chapters. Including Detailed References.

Other Reports & Dossiers

Statista for Your Company: The Research and Analysis Tool

  • Product Film
  • Statistics
  • Downloads

Our Premium Statistics - facts for your business

Currently, Statista provides more than 1 million statistics.
93 percent (all Premium content) are exclusively accessible via our professional accounts.

Unlimited access

As a Statista Premium customer, you receive unlimited access to all statistics at all times. Including downloads of data in the most common formats (XLS, PDF & PNG). Create relevant and significant statistics in no time.

You are in good company

Further Content: Statistics, Studies, and Topic Pages

Our Business Solutions: Save Time and Money

only

$588*

per year
Your advantages
  • Full access to all our statistics
  • Download as XLS, PDF & PNG
  • Relevant data: complete source information
All functions of our platform illustrated face-to-face
  • Learn how Statista supports your company
  • Extensive tour across the whole portal
  • Personal guidance by our support team
The knowledge database for your company
  • All functions of the Premium Account
  • Access to dossiers, forecasts and studies
  • Access to our international database
  • Publishing rights and other exclusive functions

Statistics on the topic

Topics

About Statista

Learn more about how Statista can support your business.

Request webinar